“Looking ahead, our journey continues in 2018 as we further expand our
portfolio, build on our commercial capabilities, and continue to invest
in our business to better serve our customers and improve in-market
execution”

Highlights

Full-year diluted earnings per share were €1.41 on a reported basis
or €2.12 on a comparable basis, including a negative currency
translation impact of €0.04.

Full-year reported revenue totalled €11.1 billion, up 21.0 percent,
or up 3.0 percent on a comparable and fx-neutral basis. Volume was up
0.5 percent on a comparable basis.

Full-year reported operating profit totalled €1.3 billion, or €1.5
billion on a comparable basis, up 9.0 percent, or up 10.5 percent on a
comparable and fx-neutral basis.

Full-year free cash flow* was €1.0 billion.

Fourth-quarter diluted earnings per share were €(0.13) on a
reported basis or €0.49 on a comparable basis, including a negligible
impact from currency translation.

CCEP provides full-year guidance for 2018 including comparable and
fx-neutral diluted earnings per share growth of between 6 percent and
7 percent when compared to 2017 comparable results.

CCEP remains on track to achieve pre-tax savings of €315 million to
€340 million through synergies by mid-2019.

CCEP completes post-merger comparability adjustments related to
final acquisition accounting and provides revised comparable financial
information and quarterly phasing for 2016 and 2017 to reflect these
adjustments. All adjustments are non-cash.

CCEP declares quarterly dividend of €0.26 per share, an increase of
approximately 24 percent.

* Refer to ‘Note Regarding the Presentation of
Alternative Performance Measures’ for further details about this measure.

“In our first full year as Coca-Cola European Partners, we have started
to realise the growth opportunities created by the merger and,
importantly, modestly exceeded our initial guidance for revenue,
operating profit, diluted earnings per share, and free cash flow,” said
Damian Gammell, Chief Executive Officer.

“Looking ahead, our journey continues in 2018 as we further expand our
portfolio, build on our commercial capabilities, and continue to invest
in our business to better serve our customers and improve in-market
execution,” Mr. Gammell said. “Though we face some headwinds in 2018, we
remain confident that our focus on driving profitable growth and
managing costs will strengthen our business for the long term.

“Today’s dividend announcement, an increase of over 20 percent, reflects
our confidence in the future of our business and our goal of generating
cash and driving increased shareholder value,” Mr. Gammell said.

Key Financial Measures

Unaudited, fx impact calculated by

recasting current year results at prior

year rates

Fourth Quarter Ended 31 December 2017

€ million

% change

As

Reported

Comparable

Fx-Impact

As

Reported

Comparable

Fx-Impact

Comparable

Fx-Neutral

Revenue

2,662

2,662

(20

)

3.5

%

3.5

%

(0.5

)%

4.0

%

Cost of sales

1,677

1,618

(12

)

7.5

%

3.5

%

(0.5

)%

4.0

%

Operating expenses

787

703

(6

)

(11.5

)%

0.5

%

(0.5

)%

1.0

%

Operating profit

198

341

(2

)

50.0

%

9.5

%

(0.5

)%

10.0

%

Profit after taxes

(61

)

240

(1

)

(608.5

)%

19.5

%

(0.5

)%

20.0

%

Diluted earnings per share (€)

(0.13

)

0.49

—

(750.0

)%

19.5

%

(0.5

)%

20.0

%

Key Financial Measures

Unaudited, fx impact calculated by

recasting current year results at prior

year rates

Year Ended 31 December 2017

€ million

% change

As

Reported

Comparable

Fx-Impact

As

Reported

Comparable

Fx-Impact

Comparable

Fx-Neutral

Revenue

11,062

11,055

(142

)

21.0

%

1.5

%

(1.5

)%

3.0

%

Cost of sales

6,772

6,739

(85

)

21.5

%

2.0

%

(1.5

)%

3.5

%

Operating expenses

3,030

2,838

(31

)

12.5

%

(2.5

)%

(1.0

)%

(1.5

)%

Operating profit

1,260

1,478

(26

)

48.0

%

9.0

%

(1.5

)%

10.5

%

Profit after taxes

688

1,035

(19

)

25.5

%

13.0

%

(2.0

)%

15.0

%

Diluted earnings per share (€)

1.41

2.12

(0.04

)

(0.5

)%

13.0

%

(2.0

)%

15.0

%

Operational Review

Full-year 2017 diluted earnings per share were €1.41 on a reported
basis, or €2.12 on a comparable basis. Currency translation had a
negative impact of €0.04 on comparable diluted earnings per share for
the year-ended 31 December 2017. Full-year reported operating profit
totalled €1.3 billion, up 48.0 percent, driven by the inclusion of
Germany, Iberia, and Iceland. Comparable operating profit was €1.5
billion, up 9.0 percent, or up 10.5 percent on a comparable and
fx-neutral basis.

Fourth-quarter 2017 diluted earnings per share were €(0.13) on a
reported basis, or €0.49 on a comparable basis. Currency translation had
a negligible impact on fourth-quarter comparable diluted earnings per
share. Fourth-quarter reported operating profit totalled €198 million,
up 50.0 percent versus prior year. Comparable operating profit was €341
million, up 9.5 percent, or up 10.0 percent on a comparable and
fx-neutral basis.

Key operating factors for the full year include solid revenue growth
driven by revenue per case growth coupled with 0.5 percent volume
growth. Operating margins improved as we maintained gross margin and as
we continue to realise post-merger synergy benefits. Fourth-quarter
results also reflect the quarterly phasing of final post-merger
comparability adjustments. For a full reconciliation of reported to
comparable results, please refer to the Supplemental Financial
Information section.

Revenue

Full-year 2017 reported revenue totalled €11.1 billion, up 21.0 percent,
or up 3.0 percent on a comparable and fx-neutral basis. Revenue per unit
case grew 2.5 percent on a comparable and fx-neutral basis and volume
increased 0.5 percent on a comparable basis.

On a territory basis for full-year 2017, Iberia revenues were up 3.0
percent, and revenue in Germany was up 2.5 percent. Revenue in Great
Britain grew 4.5 percent on an fx-neutral basis, and on a reported
basis, revenue declined 2.5 percent, driven by a decline of the British
pound versus the euro. Revenue in France was up 0.5 percent for the
year, and revenue in the Northern European territories (Belgium,
Luxembourg, the Netherlands, Norway, Sweden, and Iceland) was up 4.5
percent, led by Belgium/Luxembourg and the Netherlands.

On a brand basis for full-year 2017, volume for sparkling brands was up
0.5 percent. Coca-Cola trademark brands decreased 0.5 percent, with
growth of approximately 15.0 percent in Coca-Cola Zero Sugar offset by
declines in other trademark brands. Sparkling flavours and energy grew
4.0 percent with continued strong growth in energy and solid growth in
Fanta, Vio, and Royal Bliss. Still brands increased 1.0 percent, and
water brands were down 1.5 percent.

Fourth-quarter 2017 reported revenue totalled €2.7 billion, up 3.5
percent, or up 4.0 percent on a comparable and fx-neutral basis. Revenue
per unit case was up 3.0 percent on a comparable and fx-neutral basis
driven by favourable price, promotion and channel mix. Fourth-quarter
volume increased 0.5 percent on a comparable basis, reflecting solid
field sales execution and the benefits of marketing and brand
initiatives.

On a territory basis for fourth-quarter 2017, Iberia revenues were up
3.0 percent, driven by both volume and revenue per unit case growth,
supported by favourable channel and package mix. Revenue in Germany was
up 6.5 percent, primarily driven by strong revenue per unit case growth
reflecting pricing and promotional plans as well as favourable package
and brand mix. Revenue in Great Britain grew 1.5 percent on an
fx-neutral basis with solid gains in revenue per unit case partially
offset by a decline in volume reflecting an ongoing focus on promotional
effectiveness and efficiency. On a reported basis, Great Britain
revenues were down 0.5 percent, driven by a decline of the British pound
versus the euro. Revenue in France was up 6.0 percent with growth in
both revenue per unit case and volume, driven by channel mix and solid
growth in Coca-Cola Zero Sugar. Revenue in the Northern European
territories (Belgium, Luxembourg, the Netherlands, Norway, Sweden, and
Iceland) was up 2.5 percent, led by Belgium/Luxembourg and the
Netherlands.

On a brand basis for fourth-quarter 2017, volume for sparkling brands
was up 1.0 percent. Coca-Cola trademark brands decreased 0.5 percent,
with growth of 15.0 percent in Coca-Cola Zero Sugar offset by declines
in other trademark brands. Sparkling flavours and energy grew 5.0
percent led by energy brands and Fanta. Still brands increased 0.5
percent. Water brands were down 2.0 percent, impacted by the
discontinuation of select less profitable water brands partially offset
by solid growth from Aquabona in the quarter. Juices, isotonics, and
other were up 2.5 percent with solid growth from Capri-Sun.

Cost of Sales

Full-year 2017 reported cost of sales were €6.8 billion, up 21.5
percent, driven by the inclusion of Germany, Iberia, and Iceland.
Comparable cost of sales was €6.7 billion, up 2.0 percent, or up 3.5
percent on a comparable and fx-neutral basis. Full-year cost of sales
per unit case increased 3.0 percent on a comparable and fx-neutral
basis, driven by channel, brand and package mix, and manufacturing
costs, as well as year-over-year cost increases in key inputs,
principally concentrate and sweetener. This was partially offset by
benefits from our synergy programmes.

Fourth-quarter 2017 reported cost of sales were €1.7 billion, up 7.5
percent. Comparable cost of sales was €1.6 billion, up 3.5 percent, or
up 4.0 percent on a comparable and fx-neutral basis. Fourth-quarter cost
of sales per unit case increased 3.5 percent on a comparable and
fx-neutral basis, driven by channel, brand and package mix, as well as
year-over-year cost increases in key inputs, principally concentrate,
partially offset by benefits from our synergy programmes.

Operating Expenses

Full-year 2017 reported operating expenses were €3.0 billion, up 12.5
percent, driven by the inclusion of Germany, Iberia, and Iceland.
Comparable operating expenses were €2.8 billion, down 2.5 percent, or
down 1.5 percent on a comparable and fx-neutral basis.

Fourth-quarter 2017 reported operating expenses were €787 million, down
11.5 percent. Comparable operating expenses were €703 million, up 0.5
percent, or up 1.0 percent on a comparable and fx-neutral basis. This
reflects volume related costs, timing, and select investments partially
offset by synergy benefits and a continued focus on managing expenses.

The US Tax Cuts and Jobs Act (the “Act”) was enacted on 22 December 2017
and represents a significant change to the US tax code. Whilst CCEP is a
UK listed and tax resident entity, it has a number of subsidiaries
outside the UK, including a US incorporated holding company that is
wholly owned by CCEP plc. Based on the applicable provisions of the Act,
during the fourth-quarter 2017, we recorded a non-recurring book tax
expense of €320 million, which included an estimated book tax expense of
approximately €125 million related to the transition from a worldwide to
territorial tax system and a reduction in deferred tax assets of
approximately €195 million primarily due to the elimination of foreign
tax credits. We do not currently expect an increase in cash taxes as a
result of any provision of the Act and while we continue to assess the
situation, at this stage, we do not anticipate any impact on our
effective tax rate going forward.

Outlook

For 2018, CCEP expects revenue growth in a low single-digit range, with
both operating profit and earnings per share growth of between 6 percent
and 7 percent. Each of these growth figures is on a comparable and
fx-neutral basis when compared to 2017 comparable results. This revenue
growth guidance excludes the accounting impact of incremental soft
drinks industry taxes. These taxes are expected to add approximately 2
percent to 3 percent to revenue growth and approximately 4 percent to
cost of goods growth. At recent rates, currency translation would have a
negligible impact on 2018 full-year diluted earnings per share.

CCEP expects 2018 free cash flow* in the range of €850 million to €900
million, including the expected benefit from improved working capital
offset by the impact of restructuring and integration costs. Capital
expenditures are expected to be approximately €525 million to €575
million, including approximately €75 million of capital expenditures
related to synergies. Weighted-average cost of debt is expected to be
approximately 2 percent. The comparable effective tax rate for 2018 is
expected to be approximately 25 percent.

CCEP remains on track to achieve pre-tax run-rate savings of €315
million to €340 million through synergies by mid-2019. Further, CCEP
expects to have realised approximately 75 percent of the target by
year-end 2018. Restructuring cash costs to achieve these synergies are
expected to be approximately 2 1/4 times expected savings and includes
cash costs associated with pre-transaction close accruals. Given these
factors, currency exchange rates, and our outlook for 2018, CCEP expects
year-end net debt to adjusted EBITDA* for 2018 to be towards the low-end
of our target range of 2.5 to 3 times. As a result, during 2018, CCEP
expects to continue to evaluate returning incremental cash to
shareholders.

* Refer to ‘Note Regarding the Presentation of Alternative
Performance Measures’ for further details about these measures.

Dividends

The CCEP Board of Directors declared a regular quarterly dividend of
€0.26 per share. The dividend is payable 15 March 2018 to those
shareholders of record on 27 February 2018. The Company is pursuing
arrangements to pay the dividend in euros to shares held within
Euroclear Netherlands. Other publicly held shares will be converted into
an equivalent US dollar amount using exchange rates issued by WM/Reuters
taken at 16:00 GMT on 15 February. This translated amount will be posted
on our website, www.ccep.com,
under the Investor/Shareowner Information section.

Conference Call

CCEP will host a conference call with investors and analysts today at
15:00 GMT, 16:00 CET, and 10:00 a.m. EST. The call can be accessed
through the Company’s website at www.ccep.com.

Financial Details

Financial details can be found in our full-year 2017 earnings release on
Form 6-K, available within the next 24 hours at www.morningstar.co.uk/uk/NSM
(located under effective date 31 December 2017) and available
immediately on our website, www.ccep.com,
under the Investors tab. This document will include comparable income
statements for full-year 2017 and 2016, as well as quarterly 2017 and
2016 income statements. There is also additional supplemental financial
information, such as volume and per unit case data. The financial
details included in this earnings release and on Form 6-K are
preliminary and unaudited.

About CCEP

Coca-Cola European Partners plc is a leading consumer goods company in
Western Europe, selling, making and distributing an extensive range of
non alcoholic ready-to-drink beverages and is the world’s largest
independent Coca-Cola bottler based on revenue. Coca-Cola European
Partners serves a consumer population of over 300 million across Western
Europe, including Andorra, Belgium, continental France, Germany, Great
Britain, Iceland, Luxembourg, Monaco, the Netherlands, Norway, Portugal,
Spain and Sweden. The Company is listed on Euronext Amsterdam, the New
York Stock Exchange, Euronext London and on the Spanish stock exchanges,
and trades under the symbol CCE. For more information about CCEP, please
visit our website at www.ccep.com
and follow CCEP on Twitter at @CocaColaEP.

Forward-Looking Statements

This document may contain statements, estimates or projections that
constitute “forward-looking statements” concerning the financial
condition, performance, results, strategy and objectives of Coca-Cola
European Partners plc and its subsidiaries (“CCEP”). Generally, the
words “believe,” “expect,” “intend,” “estimate,” “anticipate,”
“project,” “plan,” “seek,” “may,” “could,” “would,” “should,” “might,”
“will,” “forecast,” “outlook,” “guidance,” “possible,” “potential,”
“predict” and similar expressions identify forward-looking statements,
which generally are not historical in nature. Forward-looking statements
are subject to certain risks and uncertainties that could cause actual
results to differ materially from CCEP’s historical experience and its
present expectations or projections. These risks and uncertainties
include, but are not limited to, obesity concerns; water scarcity and
poor quality; evolving consumer preferences; increased competition and
capabilities in the marketplace; product safety and quality concerns;
perceived negative health consequences of certain ingredients, such as
non-nutritive sweeteners and biotechnology-derived substances, and of
other substances present in CCEP’s beverage products or packaging
materials; increased demand for food products and decreased agricultural
productivity; changes in the retail landscape or the loss of key retail
or foodservice customers; fluctuations in foreign currency exchange
rates; fluctuations in the stability of the Euro; interest rate
increases; an inability of CCEP to maintain good relationships with its
partners; a deterioration in its partners’ financial condition;
increases in income tax rates, changes in income tax laws or
unfavourable resolution of tax matters; increased or new indirect taxes
in CCEP’s tax jurisdictions; increased cost, disruption of supply or
shortage of energy or fuels; increased cost, disruption of supply or
shortage of ingredients, other raw materials or packaging materials;
changes in laws and regulations relating to beverage containers and
packaging; significant additional labelling or warning requirements or
limitations on the availability of CCEP’s products; an inability of CCEP
to protect its information systems against service interruption,
misappropriation of data or breaches of security; unfavourable general
economic or political conditions in Europe or elsewhere; the United
Kingdom’s exit from the European Union; litigation or legal proceedings;
non-compliance with anti-corruption laws and regulations and economic
sanctions programmes; adverse weather conditions; climate change; damage
to CCEP’s brand images and corporate reputation from negative publicity,
even if unwarranted, related to product safety or quality, human and
workplace rights, obesity or other issues; changes in, or failure to
comply with, the laws and regulations applicable to CCEP’s products or
business operations; changes in accounting standards; an inability of
CCEP to achieve its overall long-term growth objectives; deterioration
of global credit market conditions; default by or failure of one or more
of CCEP’s counterparty financial institutions; fluctuations in CCEP’s
debt rating; an inability to timely implement any previously announced
actions to reinvigorate growth, or to realise the economic benefits CCEP
anticipates from these actions; failure to realise a significant portion
of the anticipated benefits of strategic relationships, including
(without limitation) The Coca-Cola Company’s relationship with Monster
Beverage Corporation; an inability to renew collective bargaining
agreements on satisfactory terms, or CCEP or its partners experience
strikes, work stoppages or labour unrest; future impairment charges; an
inability to realise business integration and synergy savings; an
inability to successfully manage the possible negative consequences of
productivity initiatives; global or regional catastrophic events; and
other risks discussed in the reports CCEP files with the U.S. Securities
and Exchange Commission. Due to these risks and uncertainties, CCEP’s
actual future results, dividend payments, and capital and leverage
ratios may differ materially from the plans, goals, expectations and
guidance set out in CCEP’s forward-looking statements. You should not
place undue reliance on forward-looking statements, which speak only as
of the date they are made. CCEP does not undertake any obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise, except as
required under applicable rules, laws and regulations. CCEP assumes no
responsibility for the accuracy and completeness of any forward-looking
statements. Any or all of the forward-looking statements contained in
this filing and in any other of CCEP’s public statements may prove to be
incorrect.